MIAMI, United States — Men's accessories maker Randa Accessories on Monday offered to buy Perry Ellis International Inc at $28 per share, 50 cents higher than a competing offer from the apparel brand firm's founder George Feldenkreis.

The offer, which translates to about $444 million in equity, represents a 3 percent premium to Perry Ellis' closing price on Friday.

Shares of Perry Ellis were up 10 percent at $29.9 in light premarket trading.

Perry Ellis in June, agreed to be taken private for $437 million by Feldenkreis. He and his son Oscar Feldenkreis, the chief executive officer, together are the company's biggest investors.

Randa, which houses licenses for popular brands such as Levi's, Timberland and Tommy Hilfiger, on Monday said the deal would be an all-cash transaction as opposed to Feldenkreis' offer, which would be financed with a combination of debt and equity.

"We believe that this all-cash proposal is compelling for your shareholders as it would deliver immediate, certain value to them that is superior to the value of the insider transaction," Randa's chief executive Jeffrey Spiegel said in a letter to Perry Ellis' board.

Perry Ellis was not immediately available for a comment.

By Aishwarya Venugopal; editor: Shailesh Kuber.